Financials · financial year 2025, micro format
Annual accounts 2025 filed on 20-07-2026 at the NBB all 3 filings
Equity
€573,124▲ 26.4%
2024 · €453,256
Net result
€119,868▼ 14.2%
2024 · €139,756
Total assets
€2.1m▲ 22.1%
2024 · €1.7m
Solvency
27.2%▲ 0.9pp
2024 · 26.3%
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
€222,397
▼ 3.3%
2025
20232025
Net result
€119,868
▼ 14.2%
2025
highest quarter of the sector
20232025
Equity
€573,124
▲ 26.4%
2025
highest quarter of the sector
20232025
Total assets
€2.1m
▲ 22.1%
2025
highest quarter of the sector
20232025
Debt
€1.5m
▲ 20.6%
2025
20232025
Working capital
-€184,044
▼ 254%
2025
lowest quarter of the sector
20232025
Solvency
27.2%
▲ 0.9pp
2025
middle half of the sector
20232025
Current ratio
0.75
▼ 0.13
2025
middle half of the sector
20232025
Return on assets (ROA)
5.7%
▼ 2.4pp
2025
middle half of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€0.2m-€0.2m▼ 7.2%€0.2m▼ 3.3%
Net result€0.2mabove the sector's middle half-€0.1mabove the sector's middle half▼ 22.1%€0.1mabove the sector's middle half▼ 14.2%
Equity€0.2mwithin the sector's middle half-€0.5mabove the sector's middle half▲ 147%€0.6mabove the sector's middle half▲ 26.4%
Total assets€1.2mabove the sector's middle half-€1.7mabove the sector's middle half▲ 41.9%€2.1mabove the sector's middle half▲ 22.1%
Debt€1.0m-€1.3m▲ 23.2%€1.5m▲ 20.6%
Working capital€0.08mwithin the sector's middle half--€0.05mbelow the sector's middle half-€0.2mbelow the sector's middle half▼ 254%
Solvency15.1%below the sector's middle half-26.3%within the sector's middle half▲ 11.2pp27.2%within the sector's middle half▲ 0.9pp
Current ratio1.54within the sector's middle half-0.88within the sector's middle half▼ 0.660.75within the sector's middle half▼ 0.13
Return on assets (ROA)14.8%within the sector's middle half-8.1%within the sector's middle half▼ 6.7pp5.7%within the sector's middle half▼ 2.4pp
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 3% lower than in 2024 and the lowest since 2023. It is the second fall in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.1m
Fixed assets
€1.5m ▲ 14.9%
Current assets
€562,427 ▲ 47.8%
Equity and liabilities €2.1m
Equity
€573,124 ▲ 26.4%
Debt
€1.5m ▲ 20.6%
Debt's share of the balance-sheet total falls from 73.7% to 72.8%. Equity and debt are higher.
Key figures and ratios
ROE
20.9%▼
2024 · 30.8%
Debt ≤ 1 year
€746,471▲
2024 · €432,495
Debt > 1 year
€785,435▼
2024 · €837,569
Income taxes
€33,793▼
2024 · €40,359
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €1.0m | €272,956 | €262,814 |
| Depreciation and write-downs of the year | €21,850 | €53,433 | €62,971 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €3,000 awarded · €3,000 paidAnnual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,850 | €53,433 | €62,971 | ▲ 17.8% |
| Other operating charges640/8 | €96,235 | €39,966 | €35,194 | ▼ 11.9% |
| Gross operating margin9900 | €365,955 | €323,334 | €320,563 | ▼ 0.9% |
| Operating profit (loss)9901 | €247,870 | €229,935 | €222,397 | ▼ 3.3% |
| Financial income75/76B | €836 | - | - | - |
| Recurring financial income75 | €836 | - | - | - |
| Financial charges65/66B | €15,697 | €49,819 | €68,736 | ▲ 38.0% |
| Recurring financial charges65 | €15,697 | €49,819 | €68,736 | ▲ 38.0% |
| Profit (loss) for the period before taxes9903 | €233,009 | €180,116 | €153,661 | ▼ 14.7% |
| Income taxes67/77 | €53,510 | €40,359 | €33,793 | ▼ 16.3% |
| Profit (loss) for the period9904 | €179,499 | €139,756 | €119,868 | ▼ 14.2% |
| Profit (loss) for the period to be appropriated9905 | €179,499 | €139,756 | €119,868 | ▼ 14.2% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €1.2m | €1.7m | €2.1m | ▲ 22.1% |
| Fixed assets21/28 | €1.0m | €1.3m | €1.5m | ▲ 14.9% |
| Tangible fixed assets22/27 | €1.0m | €1.3m | €1.5m | ▲ 14.9% |
| Land and buildings22 | €1.0m | €1.3m | €1.5m | ▲ 15.0% |
| Plant, machinery and equipment23 | - | €0.003m | €0.003m | ▼ 21.1% |
| Current assets29/58 | €0.2m | €0.4m | €0.6m | ▲ 47.8% |
| Amounts receivable within one year40/41 | €0.2m | €0.2m | €0.002m | ▼ 99.1% |
| Trade receivables40 | €0.2m | €0.2m | - | - |
| Other amounts receivable41 | €0.009m | - | €0.002m | - |
| Current investments50/53 | - | €0.2m | €0.2m | ▲ 31.2% |
| Cash at bank and in hand54/58 | €0.05m | €0.04m | €0.3m | ▲ 825% |
| Deferred charges and accrued income490/1 | €0.003m | €0.001m | €0.006m | ▲ 577% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €1.2m | €1.7m | €2.1m | ▲ 22.1% |
| Equity10/15 | €0.2m | €0.5m | €0.6m | ▲ 26.4% |
| Contributions10/11 | €0.004m | €0.004m | €0.004m | = |
| Revaluation surpluses12 | - | €0.1m | €0.1m | = |
| Reserves13 | €0.2m | €0.3m | €0.4m | ▲ 37.5% |
| Distributable reserves133 | €0.2m | €0.3m | €0.4m | ▲ 37.5% |
| Amounts payable17/49 | €1.0m | €1.3m | €1.5m | ▲ 20.6% |
| Amounts payable after more than one year17 | €0.9m | €0.8m | €0.8m | ▼ 6.2% |
| Financial debts170/4 | €0.9m | €0.8m | €0.8m | ▼ 6.2% |
| Amounts payable within one year42/48 | €0.1m | €0.4m | €0.7m | ▲ 72.6% |
| Current portion of amounts payable after more than one year42 | €0.05m | €0.05m | €0.05m | ▲ 4.1% |
| Trade debts44 | €0.006m | €0.009m | €0.009m | ▼ 2.2% |
| Suppliers440/4 | €0.006m | €0.009m | €0.009m | ▼ 2.2% |
| Taxes, remuneration and social security45 | €0.09m | €0.08m | €0.1m | ▲ 40.7% |
| Taxes450/3 | €0.09m | €0.08m | €0.1m | ▲ 40.7% |
| Other amounts payable47/48 | - | €0.3m | €0.6m | ▲ 95.4% |
| Accrued charges and deferred income492/3 | - | - | €0 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €179,499 | €139,756 | €119,868 | ▼ 14.2% |
| + Depreciation and write-downs630 | €21,850 | €53,433 | €62,971 | ▲ 17.8% |
| Operating cash flow (approximation) | €201,349 | €193,190 | €182,839 | ▼ 5.4% |
| Investment in fixed assets (approximation) | - | -€402,956 | -€262,814 | ▲ 34.8% |
| Change in cash | - | -€11,848 | €307,172 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.